A real estate broker is one who acts as an intermediate person between a person who sells a property and a one who buys the property.
This is an American term. Generally in US real estate agents and brokers assist the sellers in marketing their property and selling it for an appreciable price so that the seller as their client gets a good profit in selling it and also in turn brokers and agents get an appreciable amount in return for selling the seller’s property. But when acting as the buyer’s agent with a signed agreement they assist them in purchasing the property with lowest possible price under the good terms. Without any signed agreement, brokers may assist the buyers in purchasing the property and can also represent the sellers and his/her interests.
In jurisdictions of US, the real estate agents and also brokers must be licensed to perform the business and receive the remuneration offered by the sellers and the buyers. And becoming a real estate broker requires training in sales, real estate law, and business management. But first the person should be a licensed real estate agent and should have experience in the respective field before applying for a real estate broker’s license. These people can work independently or hire some people to expand their business.
As a real estate broker, the person is responsible in assisting others in buying or selling their property and also is a licensed manager to other agents running their business. So the person should be good in management aspect.
Every American state has a government agency devoted to real estate. Most of the states requirements are:
The person should be atleast 18 years old.
Have graduated from high school or hold a G.E.D
Pass a written exam. Some states also require some minimum number of hours of course work before he/she is permitted to sit in the exam.